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Thread: COVID19 Factors We Should Consider/Current Events

  1. #23311
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    Quote Originally Posted by Mark Rippetoe View Post
    The rest of the country thinks Hochul is the worst governor in the country.
    As a Californian, I think it's a toss up between Newsom, Pritzker, Whitmer, and Hochul.

  2. #23312
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    Quote Originally Posted by Mark Rippetoe View Post
    The rest of the country thinks Hochul is the worst governor in the country.
    Having had to deal with her on a local project, I have first hand experience that she's a nasty piece of work.

  3. #23313
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    Quote Originally Posted by UberBabs View Post
    As a Californian, I think it's a toss up between Newsom, Pritzker, Whitmer, and Hochul.
    An informed opinion. I defer.

  4. #23314
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  5. #23315
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    Quote Originally Posted by Browndog View Post
    My default position these days is that any "sudden death" is a vax induced death, unless they release a qualified coroners report stating otherwise.
    A sound position.

  6. #23316
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    Quote Originally Posted by Mark Rippetoe View Post
    The rest of the country thinks Hochul is the worst governor in the country.
    Hey no one ever banned us from doing things like planting seeds. She's bottom 5, probably fighting for second from the bottom with Newsom. Whitmer is absolute worst though.

  7. #23317
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    Quote Originally Posted by Browndog View Post
    Having had to deal with her on a local project, I have first hand experience that she's a nasty piece of work.
    Any chance you can elaborate? I'm curious. I already very much hate her, but it's good to know one's enemy.

  8. #23318
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    Quote Originally Posted by francesco.decaro View Post
    These last 3 posts, Yngvi's, yours and Jovan's, describe the problem of fiat currency perfectly.
    Until we find a substitute, and as I said before I believe Bitcoin is it, shit like this will keep getting worse. Fiat currency is designed to enrich very few people in the short term and devalue everything else in the long term. It's a big bubble, and it will have to explode at some point, and it won't look pretty.


    By definition, if a group of nations move to a common currency (which Bitcoin would be) they are fixing their exchange rate. This means, again by definition, that for some of those countries the exchange rate will be too low, thus locking in a competitive advantage, and for the others it will be too high, putting them at a permanent disadvantage.
    After the fixing, the dynamics of inflation differentials will take over; given that prices are determined, in the main by cost of raw materials and wages, and you normally can't control the former (unless you are Russia, for example), nations in the group with higher inflation will have no choice but to adopt deflationary policies, which means high unemployment and lower salaries (and a cut in welfare and social services).
    Should these policies succeed (and eventually they do, once the local population is impoverished enough), they will trigger a response from lower-inflation countries, eager to maintain their competitive advantage, and the game starts again.

    The whole system is inherently deflationary, in the most vicious sense, and it's vividly demonstrated by the Eurozone, whose monetary system is even stricter than the post-WWII gold-based one (and is advantageous for Germany because it allows them NOT to revalue their currency).

    That system had at least two mitigating features, that reduced the burden of adjustments on higher-inflation nations (thanks, of course, to the benevolence and tolerance of the USA. This tolerance has been abused, chiefly by Germany, with the predictable results we see playing out now): controls on capital movement, and a clear separation of banking activities from speculative ones (thanks to the Glass-Steagall-type legislation, which predates the Bretton Woods agreement, of course).

    The Eurozone is Bretton Woods without any of these mitigating features; replacing fiat currencies with Bitcoin would be at least as bad, if not worse.
    Personally I find it quite surprising that someone from Italy, who has probably experienced first hand the effects of using the wrong monetary system, can advocate Bitcoin (and its ilk) so blindly and uncritically.

    IPB

  9. #23319
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    Quote Originally Posted by Mark Rippetoe View Post
    Had it been Covid, you would already know.
    JP Sears comedy break… – CITIZEN FREE PRESS

    US Freedom Flyers Meeting with FAA Whistleblower

  10. #23320
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    Quote Originally Posted by Yngvi View Post
    If you believe it is just below average IQ kids or lazy kids in school for meaningless degrees, you are being deceived by the divisive propaganda.
    A graduate degree in STEM does not guarantee hard working, high IQ Americans jobs that will pay off the student loan debt.
    What I have seen over the past 10 years is that only about half of American STEM graduates can land a job in a STEM-related field; the others end up underemployed, working as a cashier in a garden supply store or doing odd jobs to survive while living out of a van.
    If you are an alien, you will get a good job due to the $25,000 dollar subsidy to American corporations for every foreigner hired.
    I don't. For STEM, you probably need to bump that average IQ to somewhere around 120 to have a pretty safe career (as long as the requisite conscientiousness is there), and of course even then it's not guaranteed. If corporations can settle for a 105 IQ IT guy, they will almost certainly prefer foreign labor. The irony is, they could have superior labor and more functional products if you could simply IQ test kids out of high school, pay them less than a university grad (assuming a legitimate university system, where the mean IQ is well above 100), and train them on the job. This would completely eliminate this subversive "need" for foreign tech labor. But you can't IQ test them, because the Supreme Court said "that's racist". As it stands now, many of those higher IQ high school grads will wisely stay away from the college scam and forgo access to the corporate tech labor markets. In a nutshell, pretty much every scale in the American economy and legal system has a thumb on it to facilitate the replacement and subjugation of the historical American nation.

    Quote Originally Posted by conradbc View Post
    Student loans aren't real money. It isn't like the Fed or the seedy financial institution that gives a student 80k a year to go to school is going to the vault and getting cash or gold and sending it to the institution of higher learning. The bank is not using existing money. It is made up money being created by the loan. All loans work this way. Sure banks and thrifts have some rules about cash on hand and all that but how do you determine how much of a fiat currency to let loose in the wild? How much money did we supposedly just give the Ukraine. Cancelling Student loans would be deflationary. Less money in the system inflation goes does down.
    Why do you think the FED exists? It isn't part of the government.

    The Bank of England explains it:
    Video: Bank of England explains money creation and QE, debunks money multipler [5 mins] : Economics

    The Bank of England Just Explained How Investment Banks Make Their Money
    Well said. Although, they'll probably tack on some requirements to try and make it inflationary anyway. We've been trained that "A little inflation is good! Deflation VERY BAD!", only because that "little inflation" keeps the scam going with low risk of revolution or unrest, while deflation ends it.

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